Is Capitalism Leaving the U.S. in Search of Profit?

Article by Richard D. Wolff

"The contradictions of China-bashing in the United States begin with how often it is flat-out untrue. The Wall Street Journal reports that the “Chinese spy” balloon that President Joe Biden shot down with immense patriotic fanfare in February 2023 did not in fact transmit pictures or anything else to China. White House economists have been trying to excuse persistent U.S. inflation saying it is a global problem and inflation is worse elsewhere in the world. China’s inflation rate is 0.7 percent year-on-year. Financial media outlets stress how China’s GDP growth rate is lower than it used to be. China now estimates that its 2023 GDP growth will be 5 to 5.5 percent. Estimates for the U.S. GDP growth rate in 2023, meanwhile, vacillate around 1 to 2 percent."

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It’s Hard for Americans to Engage in China-Bashing Without Tripping on Contradictions

Article by Richard D. Wolff

"The contradictions of China-bashing in the United States begin with how often it is flat-out untrue. The Wall Street Journal reports that the “Chinese spy” balloon that President Joe Biden shot down with immense patriotic fanfare in February 2023 did not in fact transmit pictures or anything else to China. White House economists have been trying to excuse persistent U.S. inflation saying it is a global problem and inflation is worse elsewhere in the world. China’s inflation rate is 0.7 percent year-on-year. Financial media outlets stress how China’s GDP growth rate is lower than it used to be. China now estimates that its 2023 GDP growth will be 5 to 5.5 percent. Estimates for the U.S. GDP growth rate in 2023, meanwhile, vacillate around 1 to 2 percent."

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Market Fundamentalism’ Is an Obstacle to Social Progress

Article by Richard D. Wolff

"A changing world order, a shrinking U.S. empire, migrations and related demographic shifts, and major economic crashes have all enhanced religious fundamentalisms around the world. Beyond religions, other ideological fundamentalisms likewise provide widely welcomed reassurances. One of the latter—market fundamentalism—invites and deserves criticism as a major obstacle to navigating this time of rapid social change. Market fundamentalism attributes to that particular social institution a level of perfection and “optimality” quite parallel to what fundamentalist religions attribute to prophets and divinities."

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The Debt Ceiling Debate Is A Massive Deception Against The Public

Article by Richard D. Wolff

"Future historians will likely look back at the debt ceiling rituals being reenacted these days with a frustrated shaking of their heads. That otherwise reasonable people would be so readily deceived raises the question that will provoke those historians: How could this happen?"

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The Critical Hour: Weekly News Wrap Up

Richard Wolff joins Garland Nixon and Wilmer Leon on The Critical Hour to discuss the economic stories for the week. Americans are using "buy now pay later" apps to purchase groceries. US consumerism is struggling against the neoliberal impoverishment of the working class.
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Zero Hour: Consumerism, Fetishism, and the Opiate of the Masses

Prof Wolff joins Zero Hour with RJ Eskow to discuss: Consumerism, Fetishism, and the Opiate of the Masses

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The Socialist Program: Imperialism, China, and the World Economy

Brian and Prof. Wolff discuss the decline of the U.S. world order and economic domination, as BRICS economies overtake those of the G7.

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The Socialist Program: Capitalists Wage War on Nature

Brian and Prof. Wolff discuss the massive wildfires in Canada that blanketed the East Coast in a haze of smoke for days. As the climate crisis intensifies, hazardous conditions are set to become more and more common in every part of the world. But for the capitalists, the only thing that matters is that their employees keep coming in to the job, regardless of the severe health dangers. Without workers working, the capitalists make zero profits.

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Guerrilla History: Sanctions & Dedollarization + Cornel West Chat

Prof Wolff joins Guerilla History to continue their discussions about the process of dedollarization and specifically focusing on how this process will impact the United States's ability to sanction anyone they see fit as they see fit, as well ass have a brief discussion of Cornel West's Presidential bid.

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The David Lin Report: New Global Currency Born As Dollar Dies, Capitalism ‘Abandons’ Declining U.S. Empire

Prof Wolff joins David Lin to discuss the decline of the American Empire, the gradual process of de-dollarization around the world, and the faults of capitalism in our society.

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The Socialist Program: Biden & Republicans Unite Against the Poor and the Environment

Brian Becker and Prof. Richard Wolff discuss how Joe Biden and Speaker of the House Kevin McCarthy have unveiled a “debt ceiling” agreement involving major attacks on workers and the environment. The two are now racing to push through Congress a deal that would see stepped up production of fossil fuels, cuts to food stamps, and the rollback of vital services – all while making it easier for the rich to evade taxes and exempting the Pentagon from any spending limits.

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The World Economy Is Changing—the People Know, But Their Leaders Don’t

Article by Richard D. Wolff

"The year 2020 marked parity between the total GDP of the G7 (the U.S. plus allies) and the total GDP of the BRICS group (China plus allies). Since then, the BRICS economies grew faster than the G7 economies. Now a third of total world output comes from the BRICS countries while the G7 accounts for below 30 percent. Beyond the obvious symbolism, this difference entails real political, cultural, and economic consequences. Bringing Ukraine’s Zelenskyy to Hiroshima to address the G7 recently failed to distract the G7’s attention from the huge global issue: what is growing in the world economy vs. what is declining..."

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The Socialist Program: First Republic Bank Rescue & Secret Collusion Between the Government and Wall Street's Biggest Banks

Brian and Prof. Richard Wolff discuss the third bank failure in two months. First Republic collapsed Monday, a sure sign that the financial system is still in huge turmoil. Then JPMorgan Chase bought the bank's assets for a bargain. What does this say about the economic system and what does it mean for the rest of us?

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Guerilla History: Dedollarization & the Petrodollar

Prof Wolff joins Guerilla History to discuss: the process of dedollarization, its impact on the Petrodollar, and how these play into geopolitics more broadly including the ability of the US to sanction whomever they wish - processes that we need to continue keeping an eye on.  

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Economic Update: The Emerging New World Economy: A New Empire, a Multipolar World, or a Post-Capitalist System

[S13 E17] New

Four key changes drive a new world economy emerging from the old. First is capitalism's transition from neoliberal,globalizing to nationalistic capitalism. This includes the shift of capitalism's center from western Europe and the US to Asia and the global south and also includes the deepening economic inequality inside most nations. Second is the end of the stale, old debate between private and state capitalism (misnamed as capitalism vs socialism) in favor of private + state capitalism hybrids. Third is the post-peak decline of the US empire. Fourth is the urgent question of what comes next: a new empire, a multipolar world, or a new post-capitalist system that replaces...READ MORE


By Any Means Necessary: US Empire Declines as Contradictions of Capitalism Intensify

Prof Wolff joins By Any Means Necessary on Radio Sputnik to discuss House Republicans’ proposal on conditions for raising the debt ceiling and how the debt ceiling political debate demonstrates the unity of both political parties, the ongoing inflation issue and why the assertion that workers’ wage growth is responsible for it ignores price gouging by corporations, and how recent events in the conflict in Ukraine are marking a global shift in the political and economic order.

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Zero Hour: The Sickness of 'Artificial Intelligence'? The System.

Prof Wolff joins Zero Hour with RJ Eskow to discuss: The Sickness of 'Artificial Intelligence'? The System. 

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The Emerging New World Economy

Article by Richard D. Wolff

"The emerging new always both frightens and inspires the fading old. History is that unity of opposites. Sharp-edged rejections of what is new clash with enthusiastic celebrations of it. The old gets pushed away even as bitter denials of that reality surge. The emerging new world economy displays just such contradictions. Four major developments can illustrate them and underscore their interactions..."

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The Socialist Program: How Much Was the Bank Bailout...and How Is It Getting Covered Up?

Brian and Prof. Richard Wolff discuss the recent New York Times research on the bank bailout, stating that the regional banks massive sections of the country depend on were on the verge of collapse. Is this study real or a propaganda piece to cover up that the government spent billions on banks' mistakes?

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Economic Update: Today's Medicare for All Battle with Dr. William Bronston

[S13 E16] New

In this week’s Economic Update, Prof. Wolff discusses US deaths from Covid, poverty in the US labor force, US and Canada cooperate against immigrants, US warfare vs China's peacemaking, Amazon profits from cutting back on "free" shipping. In the second half of the show, Wolff interviews Dr. William Bronston, advocate for single-payer...READ MORE


The Socialist Program: Dollar Imperialism and Its Decline

Brian and Prof. Richard Wolff discuss how economic powerhouses like China, Russia, Brazil and others are moving away from using the dollar, changing its status as the world’s reserve currency. This shift could erode the power that U.S. banks and corporations have relied on for decades.

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Economic Update: When We Put People First in US Politics

[S13 E15] New

In this week’s Economic Update, Prof. Wolff presents updates on the failures of GOP and Democrats to face or solve major crises; layoffs and stock buybacks by US hi-tech companies; a new study of "food insecurity" in LA county. The second half of the show is dedicated to a discussion of... READ MORE

The Jimmy Dore Show: This is why the banks are failing now

Prof Wolff joins the Jimmy Dore Show to discuss the private US banking system and why banks are failing now. 

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Project Censored: the Political Economy of the US Empire in Decline

Prof Wolff joins the Project Censored podcast with host Eleanor Goldfield to discuss the myriad ways in which our economy is falling apart, the compounding traumas of living in late stage capitalism, as well as the ongoing shift from the US dollar in international trade

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Economic Update: The Marxist Tradition

[S13 E14] New

In this week’s Economic Update, Prof. Wolff discusses the history and diversity of Marxist theories and practices that comprise the Marxist tradition. Wolff also explores why Marxism draws renewed interest globally now. Finally, a detailed examination shows how some basic insights from Marx's... READ MORE

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